BERLIN — Beleaguered German kidvidder EM.TV is forecasting further losses for the current year.
According to a company report released Wednesday, weak biz in the first months of 2001 and restructuring measures have taken their toll on the group following losses last year of DM 2.6 billion ($1.14 billion).
EM.TV said unprofitable subsidiaries would be restructured or sold, adding that it is looking at either divesting itself of the Jim Henson Co. or bringing a partner into the firm.
Company also has to sell its stake in Munich TV group Tele Munchen in order to get regulatory approval for its life-saving alliance with the Kirch Group. Most of EM.TV’s stake in Formula One marketer SLEC will be going to Kirch, leaving the media giant with a 58% chunk; EM.TV would retain around 17%.
EM.TV reiterated it will concentrate on its core biz, tyke-aimed programming: “The goal of the company board is to again make EM.TV into a solid and successful business.”